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johnpaul92 johnpaul92
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8 years ago
Some economists argue that Okun's Law overstates the cost of cyclical unemployment because
A) it ignores the loss of government revenue and additional government expenditures that occur when unemployment rises.
B) the cost of retraining workers must be offset against the loss in output that occurs when workers are unemployed.
C) it ignores the fact that leisure increases during a recession.
D) if efficiency wages prevail, and workers are paid their real wage, already employed workers will reduce their effort, reducing output.
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Macroeconomics

Macroeconomics


Edition: 8th
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supamansupaman
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8 years ago
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johnpaul92 Author
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#2
8 years ago
Appreciate your help, thank you again
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